As the holiday season approaches, many homeowners may consider renting out their homes or a part of them to earn extra income, particularly in areas with high tourist traffic. Platforms... read more →
When it comes to work-related expenses, the Australian Taxation Office (ATO) allows employees to claim immediate deductions for depreciating assets that cost $300 or less. While this rule is straightforward,... read more →
As an employer, when you provide vehicles like sedans, station wagons, or passenger vans for your employees’ private use, you might be offering a car fringe benefit. This applies to... read more →
Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) mandates that all employers... read more →
It’s important to be aware of how the tax-free threshold works, especially if you’re earning income from more than one job. Many people mistakenly claim the tax-free threshold from multiple... read more →
Making the most of available tax deductions for your business can be an important aspect of starting the new financial year. It’s why planning and strategising with your tax advisor... read more →
You may pay less tax with the tax cuts that have taken effect from 1 July. While the tax savings will depend on your circumstances, it’s important to think about... read more →
The Federal Budget was handed down on 14 May 2024, and has outlined a number of changes that impact businesses, tax & superannuation. Instant Asset Write-Off Extended Small businesses with... read more →
For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their... read more →
For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax... read more →
It’s essential for property owners to understand the intricacies of deductions associated with their cherished holiday retreats. However, as the holiday season approaches, they may find that their holiday retreats... read more →
With more security and fraud-related scams targeting vulnerabilities and attempting to commit identity theft and fraud, the ATO has changed the process for how tax agents can access your information.... read more →
At the worst time of your life, the last thing you want to think about is tax. When a loved one dies, however, their affairs must be dealt with at... read more →
Small business owners may be able to claim deductions for the costs of using their home as a principal place of business when filing their income tax return. A home-based... read more →
If you’ve made a major investment in the last financial year, any income made from it will need to be included on your tax return. Any income earned from investments... read more →
There are no more shortcuts when it comes to claiming your work-related expenses this financial year! The popular ‘shortcut’ method is no longer available to be used for the 2022-23... read more →
As a taxpayer, you may likely have come across the term pay-as-you-go (PAYG). PAYG is generally a good thing, but there can be confusion between PAYG withholding and PAYG instalments,... read more →
Your tax file number (TFN) is a critical piece of information in your possession and should be a constant companion throughout your life. However, there are times when a TFN... read more →
With a new norm surrounding how Australians work (hybrid, remote or office-based), there has been a change in how work-related expenses will be claimed this year during tax season.Where once... read more →
Small businesses entitled to refunds of GST may not be aware of the four-year time limit on claiming those refunds. Your entitlement to a GST credit ends four years from... read more →